Groupama’s 2021 Annual Results

11 March 2022


00 Groupama Group


  • Premium income of €15.5 billion (+7.5%)

– Sharp increase in life and health insurance, driven by the excellent performance of the individual savings & pensions segment in France, particularly in unit-linked policies (+47.1%)

– Sustained international business growth (+8.4%) both in life and health insurance and property and casualty insurance

  • Net income of €493 million (+178.5%)

– Increase in economic operational result to €461 million (+50.7%), driven by life insurance activity

– Non-life combined ratio of 98.3% in line with our objectives

  • Solvency ratio without transitional measure of 183%

– A solvency ratio of 271% with transitional measure

– IFRS shareholders’ equity of €10.7 billion

Jean-Yves Dagès-2

The year 2021 once again demonstrated the strength of Groupama's mutualism model, with very satisfactory annual results in a fluctuating environment. This year will also be remembered for the work carried out in conjunction with the French government, which has given a new dimension to agricultural weather insurance in France. The Group naturally remains mobilized and vigilant with regard to the situation in Ukraine and its global macroeconomic consequences.

Jean-Yves Dagès
Chairman of the Board of Directors of Groupama Assurances Mutuelles
MARTEL Thierry_Directeur Général_1

In 2021, Groupama posted strong growth in all its business lines, in France and internationally, and our results, both operating and net, were high, exceeding their pre-health crisis level. We have also continued to strengthen the Group's solvency and have demonstrated our financial flexibility, successfully issuing our first green bonds.

Thierry Martel
CEO of Groupama Assurances Mutuelles